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Texas Insurance Code - INS § 2602.453. Authority of Association; Cooperation of Officers, Owners, And Employees

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) On the direction of the commissioner under Section 2602.452, the association may implement any direction made by the commissioner and may access all books, records, accounts, networks, and electronic document storage and management systems as necessary to implement the commissioner's direction.

(b) Any present or former officer, manager, director, trustee, owner, employee, or agent of the agent, or any other person with authority over or in charge of any segment of the agent's affairs, shall cooperate with the association. For purposes of this subsection:

(1) “Person” includes a person who exercised or exercises control directly or indirectly over activities of the agent through a holding company or other affiliate of the agent.

(2) “Cooperate” means:

(A) replying promptly in writing to any request for information from the association within the period established in the request; and

(B) making available to the association any books, accounts, documents, or other records or information of, or relating to, the agent within the period set in the request.

(c) A person who fails to cooperate as required under Subsection (b) is subject to sanctions under Chapter 82, in addition to all other sanctions available under law.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2602.453. Authority of Association; Cooperation of Officers, Owners, And Employees - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2602-453/

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